N.C. Gen. Stat. » Chapter 58
NC General Statutes

N.C. Gen. Stat. § 58-48-5 (2026)

Purpose of Article

✓ current as of July 2026
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The purpose of this Article is to provide a mechanism for the payment of covered claims under certain insurance policies, to avoid excessive delay in payment, and to avoid financial loss to claimants or policyholders because of the insolvency of an insurer, to assist in the detection and prevention of insurer insolvencies, and to provide an association to assess the cost of such protection among insurers. (1971, c. 670, s. 1.)

 

Notes of Decisions
Cited in 10 cases, 1992–2019 · leading case: North Carolina Ins. Guar. Ass'n v. Bd. of Trs., 691 S.E.2d 694 (N.C. 2010).
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North Carolina Ins. Guar. Ass'n v. Bd. of Trs., 691 S.E.2d 694 (N.C. 2010). · cites it 8× “As such, the provisions of the Guaranty Act pertaining to NCIGA's workers' compensation account are intended to promote the goals of the Workers' Compensation Act, and as our legislature has instructed, the Guaranty Act "shall be liberally construed to effect the purpose under G.”
Hales v. North Carolina Ins. Guar. Ass'n, 445 S.E.2d 590 (N.C. 1994). · cites it 6× “1993); see also N.C.G.S. § 58-48-5 (1991). *333 Brian Hales and his mother (hereinafter “plaintiffs”) therefore instituted the present declaratory judgment action against the Association on 21 November 1991 seeking a declaration that, inter alia, (1) Interstate’s policy was in…”
Vogler v. Branch Erections Co., Inc., 640 S.E.2d 419 (N.C. Ct. App. 2007). · cites it 10× “N.C. Gen.Stat. § 58-48-5 (2005) (emphasis added).”
Bentley v. North Carolina Ins. Guar. Ass'n, 418 S.E.2d 705 (N.C. Ct. App. 1992). · cites it 3× “” N.C.G.S. § 58-48-5 (1991). The Act provides in addition “Covered claim” means an unpaid claim, including one of unearned premiums, which is in excess of fifty dollars ($50.”
North Carolina Ins. Guar. Ass'n v. Century Indem. Co., 444 S.E.2d 464 (N.C. Ct. App. 1994). · cites it 2× “” G.S. 58-48-5. The terms “claimant” and “covered claim” are defined under the Act as follows: (2a) “Claimant” means any insured making a first party claim or any person instituting a liability claim; provided that no person who is an affiliate of the insolvent insurer may be a…”
Booth v. Hackney Acquisition Co., 807 S.E.2d 658 (N.C. Ct. App. 2017). · cites it 3× “N.C.G.S. § 58-48-5 (2015) (emphasis added).”
E. Appraisal Servs., Inc. v. State of North Carolina, 457 S.E.2d 312 (N.C. Ct. App. 1995). · cites it 2× “N.C. Gen. Stat. § 58-48-5 . As Interstate’s liquidator, the Commissioner is charged with prosecuting and defending appropriate claims against the insolvent insurance company, as well as abandoning the prosecution of claims deemed unprofitable to pursue.”
Swift v. Richardson Sports Ltd. Partners, 658 S.E.2d 674 (N.C. Ct. App. 2008). · cites it 2× “] Accordingly, under either Tennessee or North Carolina law, it is possible that the Commission intended to impose the attorney’s fees on the insurer and used the plural form “defendants” to encompass both the original insurer, Legion, as well as TIGA, the entity that assumed…”
NC Ins. Guar. Ass'n v. Weathersfield Mgmt. (N.C. Ct. App. 2019). · cites it 2× “” N.C. Gen. Stat. § 58-48-5 (2017). Additionally, § 58-48-35(a)(2) provides Plaintiff shall have “rights, duties, and obligations of the insolvent insurer as if the insurer had not become insolvent.”
John Alden Life Ins. v. North Carolina Ins. Guar. Ass'n, 589 S.E.2d 908 (N.C. Ct. App. 2004). · cites it 2× “See N.C. Gen. Stat. § 58-48-5 (stating that the Guaranty Association was created to ensure North Carolina citizens “avoid financial loss .”
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